Ann: Annual Report to shareholders, page-4

Had a quick look at top 20 list as at 15 August 2022, part excerpt below:



Interesting to see Next Investors taking a fairly sizeable punt at number 6 with circa 12.8 million shares, and per this updated note as at 12 September 2022 the position appears to have increased to about 16.6 million shares (and 3.5 million options):
Link available here:

https://catalysthunter.com/mining/fnt/lnr-now-drilling-australias-hottest-rare-earths-province/

In my view there is nothing earth-shattering in their analysis, however, this additional public exposure certainly does not harm LNR’s prospects of value appreciation (provided it is ultimately supported by genuine exploration success) and I like to cross-check my own investment thesis against what large shareholders may be thinking:



I am in with a modest pilot holding here for now, but may increase if the drilling results support the hypothesis.

For the avoidance of doubt I have no affiliation with Next Investors and collated the above principally for my own interest. As always please do your own research and the above is not intended as advice in any form.

Very best to all shareholders.